Wednesday, November 28, 2007

Taking Cue frm Wall Street

KLCI ends +0.1% at 1366.58 in moderate volume, off intraday high of 1373.09 as profit-taking into strength weighs on market. Market breadth turned negative by midday; at close, decliners led gainers 556 to 279. KLCI expected to be in 1350-1370 range; expects investors to take cue from Wall Street's performance tonight to determine direction. The rebound in U.S stocks overnight and firmer regional markets helped to lift the market but profit-taking by retail players and funds narrowed gains. This pattern may persist tomorrow but late bargain hunting may buffer falls.

No comments: